Vincent Boland: Could one company’s fall trigger a property collapse in China?

The ongoing struggles of beleaguered property giant Evergrande pose a huge threat not just to its own survival, but to the very stability of the Asian superpower’s financial system

12th September, 2021
Vincent Boland: Could one company’s fall trigger a property collapse in China?
A man walks past a banner outside the China Evergrande Centre in Hong Kong: the experience of Ireland and Spain, where property bubbles burst with devastating consequences in the financial crash of 2008, has direct relevance to what is happening in China. Picture: Bloomberg

The key to understanding the economies of east Asia, I was once told by a colleague, is the property market. A veteran Asia watcher at the Financial Times, he knew what he was talking about. He had seen enough property booms and busts in the region – our conversation took place in the late 1990s – to conclude that, while one might be unfortunate, two is a trend.

The remark came to mind in the...

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